Economics

1) Leonard is getting paid from his most recent grant. He has a choice between $

1) Leonard is getting paid from his most recent grant. He has a choice between $10,000 today, or $15,000 in one year. He will choose the $10,000 today if: a) 10,000(1+r)> 15,00…

1) Let c=0.8. Then A 10 dollar increase in disposable income will increase consu

1) Let c=0.8. Then A 10 dollar increase in disposable income will increase consumption by 2 dollars. A 10 dollar increase in disposable income will decrease consumption by 8 dolla…

1) Let us calculate consumer and producer surplus in the market for venture capi

1) Let us calculate consumer and producer surplus in the market for venture capital investments in Silicon Valley. Let us measure the value of companies created and sold to ventur…

1) Let, N Number of books produced for the year N 1,200,000) P Setup cost for a

1) Let, N Number of books produced for the year N 1,200,000) P Setup cost for a single print run (P $5000) b Cost of producing a single book (b $1) c average monthly cost of stori…

1) Lisa is choosing between three alternatives: a) talking to her grandmother wh

1) Lisa is choosing between three alternatives: a) talking to her grandmother which she values at 30 dollars; b) writing a term paper which she values at 40 dollars; or c) going o…

1) Managers within a list r structure are typically known as staff managers True

1) Managers within a list r structure are typically known as staff managers True or False? 2. During the period after World War II. the U.S. was the most productive country in the…

1) Marge opens an oxygen bar in a building she owns. She used to rent the buildi

1) Marge opens an oxygen bar in a building she owns. She used to rent the building to her brother in law for $10,000 a year. To open the oxygen bar, Marge quit her job as a physic…

1) Marginal utility is A) the utility received from consuming one unit of a good

1) Marginal utility is A) the utility received from consuming one unit of a good. B) the change in total utility due to a one unit change in the quantity of a good consumed. C) th…

1) Microeconomics is NOT concerned with the behavior of: CLO: KN1) a) Aggregate

1) Microeconomics is NOT concerned with the behavior of: CLO: KN1) a) Aggregate Demand b) Consumers c) Industries d) Firms 2) Macroeconomics deals with: CLO: KN1) a) b) c) d) The …

1) Milton Friedman famously said that changes in money growth affect the economy

1)    Milton Friedman famously said that changes in money growth affect the economy with Milton Friedman famously said that changes in money growth affect the economy with "long a…

1) Mitchell Electronics produces a home video game that has become very popular

1) Mitchell Electronics produces a home video game that has become very popular with children. Mitchell’s managers have reason to believe that Wright Televideo Company is consider…

1) Monetary policy affects which of the following variables in the medium/long r

1) Monetary policy affects which of the following variables in the medium/long run? A) the level of output B) the rate of unemployment C) the rate of inflation D) the real interes…

1) Monopoly firms are price makers as opposed to price takers. TRUE OR FALSE 2)

1) Monopoly firms are price makers as opposed to price takers. TRUE OR FALSE 2) Trade unions have been criticized fo the undue exercise of: monopoly power OR monopsony power OR pr…

1) Most economists believe that it is impossible for government programs that be

1) Most economists believe that it is impossible for government programs that benefit the rich also to benefit the poor. True or   False 2) . Behavioral economists and traditional…

1) Mr. Jones deposited $10,000 cash into his account at Bank A. If the required

1) Mr. Jones deposited $10,000 cash into his account at Bank A. If the required reserve ratio is 10%, Bank A has to keep _____in the form of required reserves and can make a loan …

1) Now, let’s apply your knowledge of the AD / AS model to predict the effect on

1) Now, let’s apply your knowledge of the AD/AS model to predict the effect on economic variables (i.e., P, RGDP, interest rates, wages, savings and spending) of some events on th…

1) On the figure showing the market for shoes, D(d) is domestic demand and S(d)

1) On the figure showing the market for shoes, D(d) is domestic demand and S(d) is domestic supply. If not open to world trade, the price and quantity produced and demanded domest…

1) One supply-side measure introduced by the ReaganAdministration was a cut in i

1) One supply-side measure introduced by the ReaganAdministration was a cut in income tax rates. Use an aggregatedemand/aggregate supply diagram to show what effect was intended.W…

1) Our economic system produces ________ goods that firms use as inputs to produ

1) Our economic system produces ________ goods that firms use as inputs to produce future goods and services. A) investment B) capital C) tangible D) depreciation 2) In which of t…

1) Over the past year, productivity grew 1%, capital grew 4%, and labor grew 2%.

1) Over the past year, productivity grew 1%, capital grew 4%, and labor grew 2%. If the elasticities of output with respect to capital and labor are 0.5 and 0.5, respectively, how…

1) Please Explain why the answer is B If a good has an elasticity of demand of 2

1) Please Explain why the answer is B If a good has an elasticity of demand of 21, then we say the good is: A) highly inelastic. B) unitary elastic. C) not elastic. D) highly elas…

1) Please Explain with detail explanation why the answer is C Suppose that the q

1) Please Explain with detail explanation why the answer is C Suppose that the quantity of Pepsi demanded declines from 103,000 gallons per week to 97,000 gallons per week as a co…

1) Please Explain with detail why the answer is B false Supplies are highly elas

1) Please Explain with detail why the answer is B false Supplies are highly elastic in the market period, but tend to become more inelastic in the long run. A) True B) False 2) Pl…

1) PowerSki uses _____ to transmit design changes to suppliers of the 340 compon

1) PowerSki uses _____ to transmit design changes to suppliers of the 340 components that make up the Jetboard. association software collaboration software design software allianc…

1) PowerSki uses _____ to transmit design changes to suppliers of the 340 compon

1) PowerSki uses _____ to transmit design changes to suppliers of the 340 components that make up the Jetboard. association software collaboration software design software allianc…

1) Price elasticities are calculated for four commodities, and the numbers are:

1) Price elasticities are calculated for four commodities, and the numbers are: 0.009; 1.0; 3.3; and 4.1.Which indicates the most responsive situation A) 0.009 B) 1.0 C) 3.3 D) 4.…

1) Price elasticity of demand is computer as the arc elasticityby: a) dividing t

1) Price elasticity of demand is computer as the arc elasticityby: a) dividing the slope of the demand curve by the average value ofeach variable between two points b) dividing th…

1) Proper market definition is important for performing sound economic analysis

1)Proper market definition is important for performing sound economic analysis and is particularly important in enforcing anti-trust rules. Recently, there is rising concern over …

1) REAL VALUES a) In 2005, Mr. Jones received a monthly social security check fr

1) REAL VALUES a) In 2005, Mr. Jones received a monthly social security check from the government of $300. If the inflation rate was 7% during 2005, what will his monthly check be…

1) Rain Makers Corporation is negotiating a five-year contract with its new CEO,

1) Rain Makers Corporation is negotiating a five-year contract with its new CEO, Earl Honeywood. The corporation has proposed two contract options for the CEO, outlined as follows…

1) Rank the market outcomes from lowest to highest in terms of Quantitiy. Explai

1) Rank the market outcomes from lowest to highest in terms of Quantitiy. Explain the Economics of your ranking. ·              a) Bertrand ·              b) Stackelberg ·        …

1) Recall the Application about federal quality standards in the market for kiwi

1) Recall the Application about federal quality standards in the market for kiwifruit to answer the following question(s). Recall the Application. Prior to enactment of the federa…

1) Recall the Application. When a patent ends and generic drugs are introduced,

1) Recall the Application. When a patent ends and generic drugs are introduced, there is: Select one: a. downward pressure on the price of the patent version of the drug. b. upwar…

1) Refer to Figure 9.1. If the market is in equilibrium, the consumer surplus ea

1) Refer to Figure 9.1. If the market is in equilibrium, the consumer surplus earned by the buyer of the 1st unit is ________. A) $5.00 B) $15.00 C) $22.50 D) $40.00 Answer: D 2) …

1) Refer to Figure 9.3. If the market is in equilibrium, the consumer surplus ea

1) Refer to Figure 9.3. If the market is in equilibrium, the consumer surplus earned by the buyer of the 100th unit is A) $0.50. B) $0.75. C) $1.50. D) $2.00. E) $2.75. Answer: B …

1) Regarding price discrimination, consider the following chapter highlights, an

1) Regarding price discrimination, consider the following chapter highlights, and describe, in general, the major problem with price discrimination in a business situation. • If a…

1) Regarding the emotions and emotional knowledge that can influence negotiation

1) Regarding the emotions and emotional knowledge that can influence negotiations, what is meant by strategic emotion? Carefully designed emotional displays orchestrated to take t…

1) Resource owners will supply additional units of a resource as long as doing s

1) Resource owners will supply additional units of a resource as long as doing so a. decreases their opportunity cost b. increases their income c. increases their utility d. decre…

1) Rosa has a so-called fruit budget, which she uses to buy only peaches and avo

1) Rosa has a so-called fruit budget, which she uses to buy only peaches and avocados. Assume the price of peaches increases. Which of the following is an example of the substitut…

1) Sally can type 100 words per minute while David can type 200 words per minute

1) Sally can type 100 words per minute while David can type 200 words per minute. Given these numbers, society would be better off if which one of the two was employed as a typist…

1) Saving is necessary for production because a. more roundabout production is b

1) Saving is necessary for production because a. more roundabout production is better b. less roundabout production is better c. production takes time d. production is expensive 2…

1) Say that equilibrium price remained constant and quantity fell. What would yo

1) Say that equilibrium price remained constant and quantity fell. What would you say was the most likely cause? There was (Click to select)an increase, a decrease, no change in d…

1) Scenario: Pursuant to the 2010 Health Care Reform Bill, the United States wil

1) Scenario: Pursuant to the 2010 Health Care Reform Bill, the United States will be challenged to bring into its health care population some 32 million more patients. Formerly, m…

1) Shelby Inc. negotiates a 1-year, $10 million revolving line of credit with Un

1) Shelby Inc. negotiates a 1-year, $10 million revolving line of credit with Union Bank under the following terms: - Commitment fee = 0.30% of unused portion of the line, payable…

1) Should the government build more shelters for the homeless? Where will it get

1) Should the government build more shelters for the homeless? Where will it get the resources to do so? What are some of the opportunity costs. 2) Markets reward individuals acco…

1) Show your understanding of the economics and competitive forces of telecom in

1) Show your understanding of the economics and competitive forces of telecom industry. Discuss why Verizon chose to go with fiber. Do you think this was a wise decision or not? W…

1) Since the assumptions of perfect competition are rarely completely satisfied

1) Since the assumptions of perfect competition are rarely completely satisfied in practice, the perfectly competitive model is rarely used by economist. (TRUE/FALSE) 2) Under per…

1) Some individuals see national defense spending as benefiting special interest

1) Some individuals see national defense spending as benefiting special interests— in particular, the defense industry. Others see it as directly benefiting not only the defense i…

1) State and evaluate the arguments made for concentration of market power in a

1) State and evaluate the arguments made for concentration of market power in a Monopoly. 2) Why is there an emphasis on non-price competition in oligopoly markets rather than on …

1) State whether the following statement is true or false AND explain why: \"A d

1) State whether the following statement is true or false AND explain why: "A decrease in the discount rate will always cause a decrease in the federal reserve funds rate." Illust…